The price of beef has hit an all-time high in each of the last four months. Experts expect cattle prices to rise even more throughout 2012 – and, if conditions don’t improve — beyond.
The cause is what Mark Miller, of the National Cattlemen’s Beef Association, called a “perfect storm of elements” that show the convolutions of the global economy as effectively as any PowerPoint on the European debt crisis.
“Last year, we averaged $4.83 a pound,” Ronald Plain, an agricultural economist at the University of Missouri, told The Huffington Post. “And I expect we’re going to average $5.10 and $5.15 in 2012.”